Capstone Turbine Corporation Names Serba Dinamik Its Distributor in Indonesia and Brunei for Oil & Gas
CHATSWORTH, Calif., July 22, 2010 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, has named Serba Dinamik its distributor in Indonesia and Brunei for the oil and gas industry.
Serba is the first of 24 former distributors for Calnetix Power Solutions to become a distributor of the entire family of Capstone products. Calnetix sold its microturbine business to Capstone in February, which included the entire Calnetix TA100 microturbine product line. In addition, Capstone and Calnetix entered into a three-year Original Equipment Manufacturer agreement under which Calnetix will supply its new, innovative, 125 kW waste heat recovery generator system to Capstone.
Serba is an international firm with extensive experience in the following business sectors: oil and gas, refineries, petrochemical, power generation and power transmission. Serba will sell, engineer, install, and commission Capstone microturbines for oil and gas firms drilling both onshore and offshore for natural gas in Indonesia and Brunei. The company also will provide follow-up service as needed.
According to the United States Energy Information Administration, Indonesia is the tenth largest holder of proven natural gas reserves in the world and the largest in the Asia-Pacific region. The Indonesian government states that more than 70 percent of the country's natural gas reserves are located offshore. SOURCE - http://www.eia.doe.gov/cabs/Indonesia/NaturalGas.html
"Serba has worked for years with key oil and gas companies in Indonesia and Brunei," said Jim Crouse, Capstone Turbine's Executive Vice President of Sales and Marketing. "The worldwide oil and gas market is a major focus for Capstone. The natural gas market in the region is extensive, which translates into many opportunities for Capstone to provide its reliable, clean-and-green power solutions to onshore and offshore drilling sites throughout the two countries."
"Onshore and offshore drilling sites require highly reliable, compact, and low-maintenance power sources," said William NG Hock Lean, Serba's Vice President of Engineering and the company's System Integrator Business Unit. "Capstone microturbines are ideal for manned and unmanned platforms because of their extreme reliability and near 100 percent uptime."
Capstone's offerings for the oil and gas industry include an integrated microturbine package to meet the special requirements of offshore applications. The package uses corrosion protection with a stainless steel enclosure and optional features for use in hazardous areas.
The Capstone oil and gas package also has an energy storage system to start the microturbine and provide momentary power during abrupt load changes. The result is highly regulated voltage and frequency regardless of load changes. These compact, self-sufficient systems include remote dispatch, diagnostic and monitoring capabilities ideal for unmanned platforms and remote oil and gas production sites.
About Capstone Turbine Corporation
Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST) is the world's leading producer of low-emission microturbine systems, and was the first to market commercially viable microturbine energy products. Capstone Turbine has shipped over 5,000 Capstone MicroTurbine(R) systems to customers worldwide. These award-winning systems have logged millions of documented runtime operating hours. Capstone Turbine is a member of the U.S. Environmental Protection Agency's Combined Heat and Power Partnership, which is committed to improving the efficiency of the nation's energy infrastructure and reducing emissions of pollutants and greenhouse gases. A UL-Certified ISO 9001:2008 and ISO 14001:2004 certified company, Capstone is headquartered in the Los Angeles area with sales and/or service centers in the New York Metro Area, Mexico City, Nottingham, Shanghai and Singapore.
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This press release contains "forward-looking statements," as that term is used in the federal securities laws, including statements about the services that Serba will provide, opportunities for Capstone in Indonesia and Brunei, and the suitability and reliability of Capstone products in particular applications. Forward-looking statements may be identified by words such as "expects," "objective," "intend," "targeted," "plan" and similar phrases. These forward-looking statements are subject to numerous assumptions, risks and uncertainties described in Capstone's filings with the Securities and Exchange Commission that may cause Capstone's actual results to be materially different from any future results expressed or implied in such statements. Capstone cautions readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Capstone undertakes no obligation, and specifically disclaims any obligation, to release any revisions to any forward-looking statements to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events.
"Capstone Turbine Corporation" and "Capstone MicroTurbine" are registered trademarks of Capstone Turbine Corporation. All other trademarks mentioned are the property of their respective owners.
CONTACT: Capstone Turbine Corporation Investor and investment media inquiries: 818-407-3628 email@example.com
Released July 22, 2010